The emergence of a potential golden cross suggests that the broader trend is turning bullish. Typically, this attracts trend-following capital and supports further upside. Besides, the RSI is declining, even as price attempts to hold above key levels, indicating a drop in buying pressure. This divergence may create a key conflict, which may result in a correction or consolidation before the next expansion phase.
If HYPE price holds above $34 and momentum stablises and RSI begins to rise, it may reclaim $38 to $40, which may even extend to $43 to $45. Besides, a failure may result in a pullback close to $30, invalidating the possibility of recovery in the short-term.
What’s Next for the HYPE Price Rally?
Currently, the HYPE price is not breaking out but is in a transitional phase where buyers are still present, keeping the trend intact. However, the conviction is fading as the momentum is weak, which may also invalidate the upcoming golden cross as well. Therefore, defending the current support range is extremely important for the Hyperliquid price, which may pave the way for a healthy recovery beyond $40.
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